Teleflex (TFX) announced that it has completed sale of its business units that design and manufacture automotive and industrial driver controls, motion systems and fluid handling systems to Kongsberg Automotive Holding ASA.
The company noted that the divested business units were all part of the its Commercial Segment and had annual revenues of about $855 million. The company expects the cash transaction to result in an estimated after tax gain on sale of assets of just about $90 million and the cash deal was valued at $560 million.
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